Glonghui May 22 丨 Hong Kong Technology Exploration (01137bingoplusnet.HK) issued an announcementbingoplusnet, New Benefit Capital Limited will make a conditional cash offer on behalf of the company to repurchase and cancel up to the maximum number of shares (i.e. 100 million shares, accounting for approximately 11.25% of the issued shares as at the date of this announcement) at an offer price of HK$2.15 per share. The company will not buy back more than the maximum number of shares, and the offer does not propose a minimum number of shares to be bought back.

The offer price represents a premium of approximately 20.8% to the closing price of HK$1.78 as quoted on the Stock Exchange on the last trading day. The offer will be made in accordance with the Code. The consideration for the offer (which will total HK$215 million if the offer is fully accepted) will be paid in cash to the accepting shareholders and will be funded from the Group's internal resources. SMPL has been appointed as the company's financial adviser in connection with the offer.